Silver prices have displayed notable positive movements, testing the critical resistance level at 23.70. This upward momentum is influenced by stochastic positivity, maintaining its consolidation just below the mentioned level. The market is currently poised for a potential resumption of the anticipated bearish wave on an intraday basis, with a target set at 23.00 as the next significant station.
It is crucial to observe that a breach of the 23.70 resistance level would alter the anticipated decline, potentially leading to new gains. In this scenario, the price is expected to start at 24.00 and extend to 24.60.
For today’s trading activities, the projected range is between the support level of 23.20 and the resistance level of 24.00.
The prevailing trend for today leans towards a bearish outlook, pending confirmation through market developments. Traders are advised to monitor price movements closely for potential shifts in the current trend.
